What is a Personal Pension?

A Personal Pension is a long-term, tax-efficient savings method that helps you set money aside for later life and retirement. The money you invest can be used as an income when you retire. When you pay into a pension, your contribution is boosted by tax-relief. Basic tax relief is claimed on your behalf, but the Higher and Additional Rates must be claimed on an annual tax return.

With investing your capital is at risk. Investments can fluctuate in value, and you may get back less than you invest. Pension eligibility applies. Tax is subject to an individual’s personal circumstances, and tax rules can change at any time.

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